Adam Jaspon is new to the condo-conversion/development world. He began investing in multi-family buy-and-hold properties in 2013 and has since accumulated 13 rental units. He was working as an engineer in the engine room of ships for the past 7 years and investing on the side. He began planning to make a career change about 18 months ago. He was preparing to start a development business and begin doing condo-conversions. Shortly after leaving his job, he reconnected with Andrew Litchfield. Andrew invited him to look at a few of his projects and come by the office to talk. Andrew, his partner Steve, and Adam decided to partner on this project at 77 Lyndhurst Street in Dorchester. They eventually brought Ryan Moore in and a partnership was born. Centerline Development (Adam's company), Penny Investments (Andrew & Steve), and Moore Investment Group (Ryan Moore) are now partnering on two condo-conversion projects in Dorchester and plan to do many more.
77 Lyndhurst Street is a two-family home in the Melville Park area of Dorchester. The homes in this area have a lot of character and they hope to restore that same charm to this building. They are adding 800 square feet to the rear section of the building and converting the property into two luxury condos.
Unit 1 will be a 1,100 square foot 2/2.5 luxury condo. This unit will encompass the entire first floor with a master suite, junior suite, and open concept living & kitchen space, including a rear porch and one deeded parking spot.
Unit 2 will be a 1,600 square foot 3/2.5 luxury condo, occupying the second and third floors of the building. The master suite will cover the entire third floor while the remainder of the unit will sit on the second floor. This unit will also include a rear porch and deeded parking spot.
The exterior of the building will be a mix of cedar shake and clapboard siding. The front porch will be completely restored and there will be all new landscaping.
We hope to see you there!